Eaton Vance Management Has $28.82 Million Position in The Travelers Companies, Inc. (TRV)
Eaton Vance Management trimmed its position in The Travelers Companies, Inc. (NYSE:TRV) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,790 shares of the insurance provider’s stock after selling 3,000 shares during the period. Eaton Vance Management owned approximately 0.08% of The Travelers Companies worth $28,822,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of TRV. BlackRock Inc. grew its position in The Travelers Companies by 2,395.6% in the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after buying an additional 19,585,476 shares during the last quarter. FMR LLC grew its position in The Travelers Companies by 42.1% in the 1st quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock valued at $795,148,000 after buying an additional 1,954,573 shares during the last quarter. American Century Companies Inc. grew its position in The Travelers Companies by 2,264.8% in the 2nd quarter. American Century Companies Inc. now owns 901,739 shares of the insurance provider’s stock valued at $114,097,000 after buying an additional 863,607 shares during the last quarter. Vanguard Group Inc. grew its position in The Travelers Companies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock valued at $2,597,871,000 after buying an additional 633,510 shares during the last quarter. Finally, Hermes Investment Management Ltd. purchased a new position in The Travelers Companies in the 2nd quarter valued at $58,950,000. Hedge funds and other institutional investors own 77.48% of the company’s stock.
In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $127.49, for a total value of $703,489.82. Following the transaction, the insider now directly owns 82,824 shares of the company’s stock, valued at approximately $10,559,231.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andy F. Bessette sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total value of $424,050.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $1,285,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,877 shares of company stock valued at $18,539,282. Company insiders own 0.82% of the company’s stock.
TRV has been the subject of a number of recent analyst reports. MKM Partners reissued a “neutral” rating and issued a $130.00 target price (up previously from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Credit Suisse Group reduced their target price on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th. Wells Fargo & Company reissued a “hold” rating and issued a $125.00 target price on shares of The Travelers Companies in a report on Tuesday, September 12th. Zacks Investment Research downgraded The Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $148.00 target price (down previously from $150.00) on shares of The Travelers Companies in a report on Monday, July 24th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The Travelers Companies currently has an average rating of “Hold” and an average target price of $126.18.
Shares of The Travelers Companies, Inc. (NYSE TRV) opened at 122.04 on Friday. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.37. The stock has a market cap of $33.68 billion, a PE ratio of 12.15 and a beta of 1.21. The company’s 50-day moving average price is $124.75 and its 200-day moving average price is $123.78.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.15). The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Analysts expect that The Travelers Companies, Inc. will post $7.67 earnings per share for the current year.
The Travelers Companies declared that its Board of Directors has authorized a stock repurchase program on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is currently 28.77%.
The Travelers Companies Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
Receive News & Ratings for The Travelers Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Travelers Companies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.